Tyche Wealth Partners LLC Acquires New Shares in Amgen Inc. (NASDAQ:AMGN)

Tyche Wealth Partners LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,092 shares of the medical research company’s stock, valued at approximately $1,467,000.

Other large investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its stake in Amgen by 1.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after purchasing an additional 193 shares in the last quarter. Diversified Trust Co increased its position in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after acquiring an additional 16,376 shares during the period. Nicolet Advisory Services LLC increased its position in shares of Amgen by 4.4% during the third quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after acquiring an additional 117 shares during the period. Platform Technology Partners increased its position in shares of Amgen by 7.4% during the third quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock worth $1,567,000 after acquiring an additional 402 shares during the period. Finally, Traynor Capital Management Inc. increased its position in shares of Amgen by 9.5% during the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after acquiring an additional 1,650 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN traded up $0.13 during mid-day trading on Tuesday, hitting $265.64. 2,017,570 shares of the company’s stock were exchanged, compared to its average volume of 2,871,780. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm has a market capitalization of $142.36 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.58. The business’s 50 day moving average is $279.63 and its two-hundred day moving average is $281.52. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the prior year, the firm earned $4.09 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.39%. Amgen’s payout ratio is currently 72.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMGN shares. BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. UBS Group dropped their target price on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Truist Financial reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $295.30.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.